Bank of Montreal Enters into Automatic Securities Purchase Plan

Core Viewpoint - Bank of Montreal (BMO) has announced an automatic securities purchase plan (ASPP) to facilitate the repurchase of up to 20 million common shares as part of a normal course issuer bid, pending regulatory approvals [1][2]. Group 1: Securities Purchase Plan - The ASPP is established with BMO Nesbitt Burns Inc. to enable the repurchase of common shares [1]. - The actual number of shares purchased, timing, and price will depend on management's discretion, influenced by market conditions and capital adequacy [2]. - The repurchase will commence after receiving approval from the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Toronto Stock Exchange (TSX) [1][2]. Group 2: Financial Position and Market Context - BMO is the eighth largest bank in North America by assets, with total assets of $1.41 trillion as of October 31, 2024 [9]. - The bank serves approximately 13 million customers across Canada, the United States, and select global markets, providing a wide range of financial services [9].